Asked on 13 Jun 2020
Yes, it is okay to leave it if the policies do not fulfil your needs. In this case, the application will be closed after a period of time.
Take note that if there is medical underwriting, then the underwriters will need to review your case all over again when you submit a fresh application next time.
In any case, I will suggest for you to review your needs and determine why the policies don't suit you, and why you signed them in the first place.
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Policies only start upon premium payment. The free-look period only applies if policies have been incepted, and that is conditional with premium payment.
If you haven't made any payment yet then there's no issue. The policy status will become not-taken up eventually.
However, if you have put the payment on an automatic deduction such as credit card, then you'll need to call in to free-look the policy.
Hello there! There should have a 14-day free look period, which means you can cancel your policy within 14 days. You might want to check with your friend.